Coverys, a leading, Boston-based medical professional liability carrier, has made a majority investment in Archway Health ("Archway"), a Boston-based healthcare technology platform focused on value-based care reimbursement and risk management initiatives. The partnership with Coverys provides Archway with additional resources to continue building its best-in-class bundled payment and value-based care platform, as well as expand its MGU and employer stop loss products.
Incorporated in 2014, Archway Health is a healthcare technology platform that specializes in Medicare bundled payment management, specialty clinical process improvement, risk management products and self-insured employer medical stop loss programs. Archway currently has 37 employees across four offices and is experiencing rapid growth as the market shifts to value-based care and the need grows for more robust risk management programs.
Founded in 1975, Coverys is an innovative medical professional liability insurance provider dedicated to helping its policyholders and clients anticipate, identify and manage risk to reduce errors, eliminate inefficiencies and improve outcomes. As the fifth-largest medical malpractice carrier in the country, Coverys is responsible for insuring and providing solutions to over 32,000 physicians, dentists, and allied healthcare providers, as well as more than 500 hospitals, health centers and clinics from coast to coast.
This transaction will bring Archway's unique, complementary capabilities and key expertise in value-based care reimbursement to Coverys, which will allow Coverys to improve underwriting medical lines and offer more solutions to its provider clients.
This transaction adds to Waller Helms Advisors’ successful track record of working with innovative healthcare services and technology platforms serving both the provider and payor communities.